You may have heard someone say they make six figures every year or have a six-figure salary. Especially if you have been on the internet for any amount of time, the term “6 figures” gets thrown around a lot.
You might have been frustrated at times by hearing about 6, 7, 8, or 9 figures. The first time that I heard about 6 figures, I had no idea what it meant.
Maybe you knew what it meant right away, or maybe you just thought of it as a financial goal that others have. Let’s find out exactly what all this means.
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How Much is 6 Figures?
6 figures is any amount between $100,000 and $999,999.
To put it simply, a figure is a digit or a number. $100,000 for example has six numbers. This means that someone making this amount would make 6-figures.
You make 6 figures if you make anywhere from $100,000 to $999,999. Six figures do not always refer to numbers in finance, it can be used to refer to general numbers as well.
If someone says they make 6 figures, then they mean they make at least $100,000 but less than $1 million.
How Much is a 6-figure Salary?
A six-figure salary is one that is $100,000 up to $999,999. When talking about 6 figure salaries one is typically referring only to the dollar amount. When you talk about six-figure salaries you are not talking about cents.
For example, $4,372.65 is not six figures. It would be a four-figure salary. $104,325.83, on the other hand, is a 6 figure salary.
Why Is Making 6 Figures Impressive?
We know that 6 figures is just 6 numbers or digits. So why do so many make it a goal to make this amount?
First is the money. When you make 6 figures you are making a very good amount of money, especially on the higher end. People that make six figures can typically afford to live a more luxurious lifestyle.
Money can be very beneficial. Whether you want to make more money so you can buy new designer clothes, go on your dream vacation, buy a house or pay off debt, making more definitely helps.
Now, you don’t at all need to spend your money on these things. These are just some of the most popular reasons why people want to make 6 figures.
How Do You Make Six-Figures?
There are many ways to make a six-figure income. Especially nowadays, it is easier than ever to get started making money online.
You can 6 figures a few ways. Your salary at the job you work at is how most make this kind of money. Working a 9 to 5 can be a good way for some to make a decent living.
On top of that 9 to 5, many decide to start a side hustle. Many teens and young adults are deciding to start a side hustle or business on top of going to school or working a regular job.
This is proving to be very lucrative. Many people who start these side hustles are earning thousands in extra income every month!
Other ways to make 6 figures in income are through investments, the lottery, inheritance, etc.
Fastest Way To Make 6 Figures
The quickest way to make a six-figure income is to diversify your sources of income.
Most people only think that working a 9 to 5 job to earn a salary is the only way to make money. They believe that after a certain number of years they will eventually make 6 figures in income.
This is entirely false, there are many different ways to be financially successful.
If you are a teenager check out our article on the best business ideas for teens. Many of these business ideas are not just limited to teenagers.
Blogging for instance is something anyone of any age can do to make more money. Blogging is an excellent way to make thousands of dollars every single month and can completely replace your 9 to 5.
Having the ability to generate income without relying on a “normal” or “regular” job is the ultimate goal. For me it’s not the ability to make money on my own terms, it’s the freedom that comes with that.
Is 6 Figures Enough to Live a Good Life?
Six figures can definitely be enough to live a good life. It really comes down to your spending habits. If you spend a ton of money really fast and don’t save or invest any, six figures might not be enough.
Anyone can make 6 figures, but not everyone can keep it. For example, if you make $100,000 every year but go out to fancy restaurants and buy luxury brand clothes every week, you will not keep all that money. You might even spend more money than you actually made!
Alternatively, if you are very frugal and do not spend money on unnecessary expenses, making 6 figures is a huge amount of money.
What is 7 Figures?
7 figures is any number that is over 1,000,000 but less than or equal to 9,999,999. If the number is between those two values then it is a seven-figure number.
Take the number 5,000,000. You could call this seven figures because there are seven digits in this number.
How Much Money is 7 Figures?
In terms of money, seven figures is anything between $1,000,000 and $9,999,999. There are many cases where people would be talking about 7 figures of money.
For instance, they could be talking about earning seven figures of income, a seven-figure salary, or a seven-figure commission or sale.
If someone earned a seven-figure commission, they made somewhere between $1,000,000 and $9,999,999. Earning a commission of $1,620,000 would be an example of a seven-figure commission.
What is 7 Figures Salary?
A 7 figure salary is a salary that equals an amount between $1,000,000 and $9,999,999. Someone earning $3,200,000 would be an example of a seven-figure salary.
What is 8 Figures?
8 figures is any number that is over 10,000,000 but less than or equal to 99,999,999. If the number is between those two values then it is an eight-figure number.
Take the number 20,000,000. You could call this eight figures because there are eight digits in this number.
How Much Money is 8 Figures?
In terms of money, eight figures is anything between $10,000,000 and $99,999,999. There are many cases where people would be talking about 8 figures of money.
For instance, they could be talking about earning eight figures of income, an eight-figure salary, or an eight-figure commission or sale.
If someone earned a eight-figure commission, they made somewhere between $10,000,000 and $99,999,999. Earning a commission of $10,500,000 would be an example of an eight-figure commission.
What is 8 Figures Salary?
An 8 figure salary is a salary that equals an amount between $10,000,000 and $99,999,999. Someone earning $40,500,000 would be an example of an eight-figure salary.
What is 9 Figures?
9 figures is any number that is over 100,000,000 but less than or equal to 999,999,999. If the number is between those two values then it is a nine-figure number.
Take the number 210,000,000. You could call this nine figures because there are nine digits in this number.
How Much Money is 9 Figures?
In terms of money, nine figures is anything between $100,000,000 and $999,999,999. There are many cases where people would be talking about 9 figures of money.
For instance, they could be talking about earning nine figures of income, a nine-figure salary, or a nine-figure commission or sale.
If someone earned a nine-figure commission, they made somewhere between $100,000,000 and $999,999,999. Earning a commission of $500,000,000 would be an example of a nine-figure commission.
What is 9 Figures Salary?
A 9 figure salary is a salary that equals an amount between $100,000,000 and $999,999,999. Someone earning $350,000,000 would be an example of a nine-figure salary.
Conclusion
Making six figures is a great financial goal to have. Pair that with good spending habits and you will live a very fulfilled life.
However, you do not have to stop at just six figures.
With the right idea and goal in mind, you can make upwards of 7 or 8 figures.
If any of this sounds intriguing, make sure to check out our other articles on growing your wealth and earning more money.
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